Comment Text:
i0-001
COMMENT
CL-00127
From:
Sent:
To:
Subject:
jon
Friday,
January 15, 2010 9:30 PM
secretary
please say no to new leverage limitations
Dear Sirs,
In regards to the proposed regulations that would require all FX
industry professionals in the US to be registered with the CFTC, and
imposes a 10:1 leverage ceiling on traders, doesn't it seem like these
two things are in conflict?
The registration mandate would substantially increase the credibility of
all associated industry personnel, yet the leverage limits will send
most traders to foreign brokerages. What good does it do us to have
registered professionals flipping burgers at McDonald's because traders
fled US brokerages?
Please reconsider a more reasonable leverage limit of 50:1 or 100:1,
it's hard enough to make a profit in this field, without regulatory
agencies policing the retail trader into oblivion.
Sincerely,
David Lawrence
